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HB476
166499-1:n:03/31/2015:LFO-KF/ccd HB476 By Representatives Knight, Scott, Robinson and Rogers
RFD Ways and Means Education Rd 1 09-APR-15 SYNOPSIS: Under current law, the state levies
an income tax upon all residents of the state and upon all nonresidents who receive income
from Alabama sources. Taxpayers are allowed standard deductions and personal exemptions in
computing income subject to the tax. This bill proposes the Alabama Individual Income Tax
Reform Act of 2015. This bill, which would be contingent upon the ratification of a constitutional
amendment to repeal the deduction of federal income tax payments on Alabama income tax returns,
would increase the standard deductions and personal exemptions allowed for Alabama income
tax purposes to the amounts allowed for federal income tax purposes. This bill also creates
a state earned income tax credit. A BILL TO BE ENTITLED AN ACT To amend Sections 40-18-15
and 40-18-19, Code of Alabama 1975, relating to income tax deductions and...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB476.htm - 26K - Match Info - Similar pages
HB142
164990-1::03/03/2015:EBO-MEJ/mej HB142 By Representative Hill (M) RFD Ways and Means Education
Rd 1 05-MAR-15 SYNOPSIS: Under current law, each entity, subject to the Alabama corporate
income tax, is required to file a separate return and calculate the income tax on its separately
accounted for taxable income, regardless whether the entity is part of a larger business that
consists of an affiliated group of entities. This filing method allows large corporate taxpayers
to take advantage of tax planning options to shift income to other entities within the affiliated
group located in tax favorable states. Most large corporate businesses consist of a parent
corporation and a number of corporate subsidiaries. This bill would amend the corporate income
tax law to require the operations of all related entities, involved in a unitary business,
file one corporate income tax return on a combined basis, known as combined reporting. A BILL
TO BE ENTITLED AN ACT To amend the corporate income tax...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB142.htm - 62K - Match Info - Similar pages
HB274
165243-1:n:03/11/2015:LF0-HP*/bdl HB274 By Representatives Johnson (K), Davis, McCutcheon,
Hill (M), Weaver, South, Butler, Williams (P), Faulkner, Collins and Baker RFD Ways and Means
Education Rd 1 12-MAR-15 SYNOPSIS: Currently, the State of Alabama's college savings program
pursuant to Section 529 of the Internal Revenue Code of 1986, as amended, is the Wallace-Folsom
College Savings Investment Plan that consists of the Alabama College Education Savings (ACES)
Program and the Alabama Prepaid Affordable College Tuition (PACT) Program to assist individuals
in paying costs and expenses of attending colleges and universities. Recently, the Achieving
a Better Life Experience (ABLE) Act of 2014 established Section 529A of the Internal Revenue
Code of 1986, as amended, to allow families and individuals to save for disability-related
expenses of a disabled individual in a federal tax-advantaged account modeled after Section
529 of the Internal Revenue Code of 1986, as amended, to be...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB274.htm - 41K - Match Info - Similar pages
SB226
SB226 By Senators Brewbaker, Melson, Dunn, Whatley, Glover, Figures, Hightower, Smitherman,
Orr, Stutts, Ross, Pittman, Reed, Ward, Williams, Allen, Smith, Albritton, Singleton, Waggoner,
Chambliss, Holley, Marsh, McClendon, Blackwell, Beasley, Scofield and Bussman ENROLLED, An
Act, This bill would amend Sections 16-33C-1, 16-33C-2, 16-33C-2.1, 16-33C-3, 16-33C-4, 16-33C-5,
16-33C-10, 16-33C-11, 16-33C-12, and 40-18-19, Code of Alabama 1975 to rename the Wallace-Folsom
College Savings Investment Plan to the Wallace-Folsom Savings Investment Plan; to provide
for the ABLE Program; provide for definitions relating to the ABLE Program; provide for the
income tax exemption eligible to the ABLE Program; allow board members that are employed by
the state. This bill would add new sections to the Code of Alabama 1975, to generally provide
for the ABLE Program; provide for the investment of ABLE and ACES Programs; and provide appropriations
for Fiscal Year 2015 for development and...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/SB226.htm - 40K - Match Info - Similar pages
HB533
167109-1:n:04/15/2015:LFO-KF/bdl HB533 By Representatives Ainsworth, Henry, Farley, Moore (B),
Mooney, Williams (P), Fridy, Holmes (M), Wingo, Greer, Wilcox and Butler RFD Ways and Means
Education Rd 1 21-APR-15 SYNOPSIS: This bill would amend Sections 2-21-24, 2-22-9, 2-23-5,
2-26-15, 8-17-91, 9-13-84, 10A-1-4.31, 22-21-24, 22-21-46, 22-27-17, 22-30B-2.1, 22-40A-15,
27-4-2, 27-4A-3, 28-3-74, 28-3-184, 28-3-200, 28-3-201, 28-3-202, 28-3-203, 28-3-204, 28-7-16,
32-2-8, 32-6-5, 32-6-6.1, 32-6-49.19, 32-8-6, 33-5-10, 38-4-12, 38-4-12.1, 38-4-13, 40-1-31,
40-8-3, 40-12-246.1, 40-12-318, 40-17-223, 40-17-360, 40-21-51, 40-21-87, 40-21-107, 40-21-123,
40-23-2, 40-23-35, 40-23-50, 40-23-61, 40-23-77, 40-23-85, 40-23-108, 40-23-174, 40-25-23,
and 40-26-20 Code of Alabama 1975, to provide further for the distribution of state tax revenues.
A BILL TO BE ENTITLED AN ACT To amend Sections 2-21-24, 2-22-9, 2-23-5, 2-26-15, 8-17-91,
9-13-84, 10A-1-4.31, 22-21-24, 22-21-46, 22-27-17, 22-30B-2.1,...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB533.htm - 173K - Match Info - Similar pages
SB9
164216-1:n:01/20/2015:LLR/th LRS2015-226 SB9 By Senator Sanford RFD Finance and Taxation Education
Rd 1 03-MAR-15 SYNOPSIS: Under existing law, health savings account contributions are not
exempt from state income taxation. This bill would provide that health savings account contributions
would be exempt from state income tax. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-19,
Code of Alabama 1975, relating to exemptions from state income tax; to provide that health
savings account contributions would be exempt from state income tax. BE IT ENACTED BY THE
LEGISLATURE OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, is amended to read
as follows: §40-18-19. "(a) The following exemptions from income taxation shall be allowed
to every individual resident taxpayer: "(1) Retirement allowances, pensions and annuities,
or optional allowances, approved by the Board of Control of the Teachers' Retirement System
of Alabama, which exempt status is set out in Section 16-25-23....
alisondb.legislature.state.al.us/...hableinstruments/2015rs/bills/SB9.htm - 9K - Match Info - Similar pages
HB70
163694-1:n:12/01/2014:LLR/th LRS2014-3635 HB70 By Representative Williams (P) RFD Ways and
Means Education Rd 1 03-MAR-15 SYNOPSIS: Under existing law, health savings account contributions
are not exempt from state income taxation. This bill would provide that health savings account
contributions would be exempt from state income tax. A BILL TO BE ENTITLED AN ACT To amend
Section 40-18-19, Code of Alabama 1975, relating to exemptions from the levy of state income
tax; to provide that health savings account contributions would be exempt from state income
tax. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama
1975, is amended to read as follows: §40-18-19. "(a) The following exemptions from income
taxation shall be allowed to every individual resident taxpayer: "(1) Retirement allowances,
pensions and annuities, or optional allowances, approved by the Board of Control of the Teachers'
Retirement System of Alabama, which exempt status is set out in...
alisondb.legislature.state.al.us/...ableinstruments/2015rs/bills/HB70.htm - 8K - Match Info - Similar pages
HB304
165935-1::03/17/2015:EBO-JK/JK HB304 By Representatives Williams (P) and Ball RFD Technology
and Research Rd 1 17-MAR-15 SYNOPSIS: Under existing law, there are no economic incentives
or tax credits extended to Alabama businesses for qualified research expenses incurred by
Alabama companies that spend funds and resources in-house, or pay Alabama research companies
to conduct qualified research for new or improved products or services. This bill would establish
the Alabama Innovation Act that would provide for a research and development tax credit to
certain Alabama companies modeled on the federal research and development tax credit. The
credit would be 25 percent of new research at an Alabama research entity, and 5 percent for
other new research conducted in Alabama. The credit could be taken against the income tax
or the financial institution excise tax. This bill would limit the Alabama Innovation tax
credits to no more than $10 million of credits per year, and no eligible company...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB304.htm - 16K - Match Info - Similar pages
HB455
164979-1:n:02/27/2015:LFO-KF/bdl HB455 By Representatives Lindsey and Scott RFD Ways and Means
Education Rd 1 09-APR-15 SYNOPSIS: This bill defines unitary business and requires taxpayers
who are part of a unitary business to use a combined report to determine their Alabama taxable
income. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-1, Code of Alabama 1975, to provide
for additional definitions and Sections 40-2A-17 and 40-18-39, Code of Alabama 1975, to require
taxpayers who are part of a unitary business to use a combined report to determine their Alabama
taxable income. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-2A-17,
40-18-1 and 40-18-39, Code of Alabama 1975, are hereby amended to read as follows: §40-2A-17.
"For purposes of the tax imposed in Chapter 18 of this title, the following rules shall
apply: "(a) In any case of two or more organizations, trades, or businesses (whether
or not affiliated within the meaning of 26 U.S.C. § 1504) owned or...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB455.htm - 31K - Match Info - Similar pages
HB240
164809-1::03/03/2015:JK/EBO-JK HB240 By Representatives Johnson (K), Collins, Henry, Harbison
and Pettus RFD Ways and Means Education Rd 1 11-MAR-15 SYNOPSIS: Under current law, an employer
is not required to withhold income taxes from an employee's wages if the employee has furnished
the employer a withholding exemption certificate certifying that the employee: (1) incurred
no income tax liability for the preceding tax year and (2) anticipates that he or she will
not incur a tax liability for income tax imposed for the current year. This bill would amend
current law to repeal the total exemption from withholding. A BILL TO BE ENTITLED AN ACT To
amend Section 40-18-73, Code of Alabama 1975, relating to individual income taxes; to repeal
the total withholding exemption; and to provide an effective date. BE IT ENACTED BY THE LEGISLATURE
OF ALABAMA: Section 1. The Legislature finds and declares the following: (a) Current law provides
individual taxpayers with the option of having no...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB240.htm - 7K - Match Info - Similar pages
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